"Not Today, But At Some Point": Gautam Singhania On Raymond Demerger

Raymond Group Chairman and Managing Director Gautam Singhania has said that separating the group's aerospace and auto businesses into distinct entities could make sense in the future. He clarified that no such move has been announced yet.

Speaking at the NDTV World Summit 2026 in New Delhi, Singhania discussed the thinking behind Raymond's demerger, the group's growth plans and the opportunities he sees across its businesses.

Asked whether Raymond could further separate its auto and aerospace and defence businesses, Singhania said, “It makes imminent sense at some point. Yes. Not today. There's nothing announced today, but at some point it will make imminent sense.” He did not provide a timeline for any such move.

#NDTVWorldSummit2026 | From personal sacrifices in protecting the Raymond legacy to the business impact of Covid and his passion for high-performance cars, Chairman and Managing Director of Raymond Group, Gautam Singhania opens up on leadership, resilience, and the road ahead. Watch the full conversation from #NDTVWorldSummit2026. Presented By - @VFSGlobal Co-Presented By - Raymond Powered By- @GE_Aerospace Powered By - @aspect_global_ Co-Powered By - Pernod Ricard Co-Powered By - @avaadagroup Co-Powered By - @whitegold_money State Partner - @JansamparkMP State Partner - @UPGovt State Partner - @DIPR_UK, @ukcmo Healthcare Partner - @lilavatihrc Gold Investment Partner - @goldcouncil Energy Partner - @BondadaOnline International Banking Partner - @MashreqTweets Special Partner - @UshaIntl Associate Partner - @PhonePe Associate Partner - @OfficialGMDC Nutrition Partner - Nutricircle Bespoke Partner - Vikas Chain Jewellery India Limited Cultural Luxury Partner - @RamalayaGlobal Associate Partner - @CRIF_India

— NDTV (@ndtv) October 23, 2026

Why Raymond Demerged Its Businesses

Singhania said Raymond's businesses are now divided into three separate entities: lifestyle, real estate, and aerospace, auto and defence. He said the aim was to give each company its own management and governance structure, with professionals who understand the respective industries.

He also said the structure would allow investors to choose which businesses they wanted to invest in, while making management incentives more closely aligned with each company's performance. According to Singhania, the separation would also make succession planning easier.

Singhania Says India's Consumption Market Is A Key Advantage

Discussing the broader business environment, Singhania said India's large domestic consumption market was a major advantage amid global uncertainty. He noted that around 85% of Raymond's business comes from domestic consumption, while exports account for the remaining 15%.

He said rising input costs, including those linked to higher oil prices, remained a challenge. Singhania highlighted the uncertainty surrounding US tariffs as a challenge for businesses.  

“You know with oil prices going up everything is sort of interconnected with oil prices and this start-stop of tariffs, no tariffs, my personal opinion you know don't shoot the messenger but is that there are going to be fundamental shifts in supply chains to the U.S. because companies like us will want to supply less to U.S. because you cannot go straight to tariffs, stop your production, look for new markets, then go back to the U.S., then again threaten,” he said.

Singhania said Europe could become a more attractive market for businesses such as Raymond, while adding that India appeared to be managing global challenges relatively well.